Better to be Safe than Sorry

The most important aspect that we have to take care of while performing any financial transaction is security. Theft, burglary, robbery are very common crimes committed in the social universe and primarily valuables and money are the coveted prizes to the miscreants. The online platform can be considered as an alternative to the traditional brick and mortar trade that has relatively reduced the chances of getting robbed. That’s what you thought, right? Wrong! Frankly, you can get robbed sitting on your couch at home. Have you ever heard of web fishing or hacking? If not then all you need to know is that these are techniques that can empty your bank balance without a trace and force you to haplessly draw blank. Scary isn’t it? Well, you can always follow a set of safety measures while doing financial transactions online specially when applying for loans.

What’s important to remember is that applications of loans or insurance do-not require any prior down payment generally. Now, when you browse online you might come across a good offer but there is a requirement of down payment as an initial step. Never go for online payment in such cases and call the customer service number provided and confirm the same. If possible set up an appointment with one of their representatives and consult. Fraudulent lenders will not even entertain your phone call let alone an appointment.

Banks or authentic financial institutions never ask of your internet banking information primarily your account username and password. All they might ask you to provide is your account number and type. Forgers tend to trick you into providing your banking details into a fake portal designed to be an authenticity check mechanism and then drain you dry. In case you pay premiums or loan installments online it’s always better to transfer directly to the concerned account.

If you happen to have online facility in your bank account make sure you have a valid mobile number and an email id mapped to it. This helps to keep track of the transactions regarding your account and log on information. Every transaction has a particular code and that code will be send to you as soon as a transaction is complete be it a credit or debit card swipe or cash credit.

Authentic financial entities always use a secure gateway and use encryption based security to protect their customer details and money.

Their URLs shall begin with HTTPS instead of HTTP, and generally will be preceded by a “lock symbol in green”. Never perform transactions through an unsecured portal which will not have these general features of web security. To know more consult an expert and post your queries in different discussion or consulting forums online.

Goodwill and performance checks are also important to perform when you sit down to decide what’s safe and what’s not. You want to get funded as quickly as possible and in times of emergency it becomes a governing parameter. For example, to compensate the sudden rise in medical bills you apply for a personal loan today and expect the fund to be credited a day after. The provision of getting funded was offered by the loan provider but it fails to deliver its promise and you end up without the required fund on the stipulated date. This inconsistency can be termed as unsafe because your emergency can be a matter of life and death.

When you look for a safe personal loans online lender these mentioned points will come in handy. Money matters require careful scrutiny and decisive decision making. The cyber space brings in a lot of flexibility to the lending business but also provides an area opportunity to the wrong doers. So, be careful and follow strict guidelines to keep the forgers and frauds at bay.